Folding beds have become increasingly popular in recent years because of the limited space available in new homes or homes remodeled to include additional sleeping space. However, prior folding beds have been either complicated in construction, subject to malfunction or have been difficult to raise and lower. It is therefore an object of the invention to create a balanced condition throughout movement from the vertical to a horizontal position by means of a mechanically simple and rugged mechanism with few moving parts which enables the bed to be easily raised or lowered with a minimum of effort. A further object is to provide a mechanism which will function efficiently with a variety of beds including twin, queen, king, extra long and double size with a further provision for adjusting the mechanism to operate efficiently with beds of each of these different sizes. More specifically, it is an object to provide an inexpensive spring counter-balanced folding wall bed mechanism which is integrated into a single unit and can be considered a module that is easy to install, has relatively few parts and is effective in reducing the force required in a typical situation to 8 pounds for pulling the bed down and 10 pounds for pulling the bed up from the operative to the vertical position.